Burger King Worldwide Inc has entered into a joint venture with private equity and real estate firm Everstone Group to start operations in India.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
Culinary Culture, which is spearheading the venture, will bring globally-ranked chefs to India as well as take local chefs abroad so they can work at world-ranked eateries.
Now they are reinventing their strategies to stay afloat, as they see no sign of recovery for at least six months.
US fast food chain Burger King Worldwide will open about 12 outlets in India over the next 60-90 days.
Wrapped in blue and orange wax paper, it's a familiar sight on the shelves of kirana stores across the country. Given how well travelled and mobile it is - starting its journey in Chennai, then turning to Singapore and now landing in Mexico - you could say it lives up to its name: Modern. Modern Food Enterprises, the company that manufactures and sells the bread in question as well as other bakery products under the "Modern" brand name, has recently been sold to the world's largest baking company, Grupo Bimbo, for an undisclosed amount. This latest transaction is the second change of guard at Modern within five years and third since the government divested the company at the turn of the century. At a time, when the National Democratic Alliance government has decided to privatise, or shut down, public sector enterprises except for those deemed strategic, Modern makes for a promising case study of how divestment led to the brand's growth, both in revenue and reach.
Global private equity (PE) firms are successfully offloading large equity stakes in domestic companies in the open market, taking advantage of buoyant conditions. Strong domestic liquidity support and an upward trending market have underpinned over a dozen PE exits worth $2.5 billion, data compiled by Business Standard shows. The figures exclude PE exits during maiden share sales and shares sold by strategic investors, such as SoftBank and Ant Group in new-age companies.
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
Sudden spurt could be seen as a sign of maturity or slowing in the sector.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
Decision to build or buy a platform is a function of price but buyouts are helping large investors create a medium and influence outcomes.
The logistics segment is becoming a hot favourite of private equity, of late.
It is raining private equity funds in the logistics and warehousing space.
People move from investment banking to growth equity or from venture capital to growth equity or entrepreneurship, depending on what's attractive at different points of life.
For the past few years, Avigo has been in talks with many strategic players, including private equity investors, to sell its stake in Spykar.
Before opening its first outlet in the country on November 9, the US fast food chain, Burger King Corporation, had approached the HC seeking an assurance that companies it had sued for trademark infringement will not approach lower courts for stay orders against its launch.
The brand which has been endorsed by the likes of Paris Hilton, Kim Kardashian and Padma Lakshmi will open the first outlet in New Delhi next April.
Vanita Kohli-Khandekar reports on the ongoing battle for the top spot between publishers S Chand and Navneet.
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